7. Segmented markets theory Which of the following are characteristics of the segmented markets theory? Chack all that apply. The choice of long-term versus short-term maturities is determined by a borrower's expectation of future interest rates, rather than by their financial needs. Investors and borrowers participate only in the maturity market that satisfies their forecasted cash flow needs, which is what causes the market segmentation The choice of long-term versus short-term maturities is determined by an investors' needs, rather than by their expectation of future interest rates The segmented markets theory explains the yield curve's shape but is not the sole explanation for the yield curve